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Multifamily

817 California St

817 California St, Santa Cruz, CA 95060

Listing Price: $3,175,000

Cap Rate
4.56%
Number of Units
4
Occupancy
100.0%
Price/Unit
$793,750
Price/Gross SF
$657.62
Gross SF
4,828

Investment Overview

817 California Street offers investors the unique opportunity to acquire a stunning stabilized pride of ownership fourplex located in a prime, downtown neighborhood of Santa Cruz, California.  Situated on a parcel of land totaling 12,023 square feet, the subject property has a gross building area of approximately 4,856 square feet, offering its tenants 4 beautifully designed spacious four-bedroom ??oor plans. The subject property is currently being leased to students at the University of Santa Cruz and offers many convenient property and community amenities including large patios, individual backyards for each unit and on-site laundry facilities.  Located within walking distance to the main corridors of Paci??ca Ave and Highway One, tenants enjoy easy access to many of Downtown Santa Cruz retail and restaurant options including, The Catalyst, Verve Coffee, O’Neil’s, Rip Curl, Betty’s Burgers and many others. The subject property is also located within a half-mile walking distance to world-class sur??ng destinations such as The Hook and Pleasure Point and within a short drive to the highly desirable destination of Capitola, CA. The long-range-development plan drives this asset's investment appeal that UCSC has in store for its future growth within the Santa Cruz Community. Currently, The University of California Santa Cruz enrolls 19,053 students. The campus is positioning itself to have up to 28,000 students in the coming years. With a world-class location, 817 California Street presents an attractive choice for student renters due to the university's proximity, local employers, transportation corridors, shopping, and dining. An investor has the opportunity to continue to work with management to supply housing for students and maintain a quality multifamily investment in Santa Cruz, CA.

Investment Highlights

  • Tremendous Stabilized Pride of Ownership Investment Opportunity in Santa Cruz, CA
  • Desirable Unit Mix Consisting of Spacious 100% Four-Bedroom Floor Plans
  • Close Proximity from UCSC(1.5mi) and The Santa Cruz Cruz Beach Boardwalk(1.5mi)
  • Walking Distance to Downtown Santa Cruz - Home to a Myriad of Dining, Shopping and Entertainment Options
  • Access to Top Tier Technology and Science Employee Base from the University of Santa Cruz

Exclusively Listed By

Listing Price: $3,175,000

Cap Rate
4.56%
Number of Units
4
Occupancy
100.0%
Price/Unit
$793,750
Price/Gross SF
$657.62
Gross SF
4,828

Investment Highlights

  • Tremendous Stabilized Pride of Ownership Investment Opportunity in Santa Cruz, CA
  • Desirable Unit Mix Consisting of Spacious 100% Four-Bedroom Floor Plans
  • Close Proximity from UCSC(1.5mi) and The Santa Cruz Cruz Beach Boardwalk(1.5mi)
  • Walking Distance to Downtown Santa Cruz - Home to a Myriad of Dining, Shopping and Entertainment Options
  • Access to Top Tier Technology and Science Employee Base from the University of Santa Cruz

Investment Overview

817 California Street offers investors the unique opportunity to acquire a stunning stabilized pride of ownership fourplex located in a prime, downtown neighborhood of Santa Cruz, California.  Situated on a parcel of land totaling 12,023 square feet, the subject property has a gross building area of approximately 4,856 square feet, offering its tenants 4 beautifully designed spacious four-bedroom ??oor plans. The subject property is currently being leased to students at the University of Santa Cruz and offers many convenient property and community amenities including large patios, individual backyards for each unit and on-site laundry facilities.  Located within walking distance to the main corridors of Paci??ca Ave and Highway One, tenants enjoy easy access to many of Downtown Santa Cruz retail and restaurant options including, The Catalyst, Verve Coffee, O’Neil’s, Rip Curl, Betty’s Burgers and many others. The subject property is also located within a half-mile walking distance to world-class sur??ng destinations such as The Hook and Pleasure Point and within a short drive to the highly desirable destination of Capitola, CA. The long-range-development plan drives this asset's investment appeal that UCSC has in store for its future growth within the Santa Cruz Community. Currently, The University of California Santa Cruz enrolls 19,053 students. The campus is positioning itself to have up to 28,000 students in the coming years. With a world-class location, 817 California Street presents an attractive choice for student renters due to the university's proximity, local employers, transportation corridors, shopping, and dining. An investor has the opportunity to continue to work with management to supply housing for students and maintain a quality multifamily investment in Santa Cruz, CA.

Exclusively Listed By

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